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flying over the fiscal cliff? >> obama has several problems. one is he doesn't want to throw the country into a worse economy and he's already created. he will extend the tax cuts for another two years. exactly what he did two years ago. the cuts in spending from the sequestration -- those will take it back. that is good for the economy because it is the only spending restraint. gerri: some people don't think so. especially with iran right now in parts of the middle east up in flames. we slow down spending on defense, let me say that? >> first of all, it is a defense of the spending increase. everyone knows there is a great deal that can be saved. we had their pensions that were saved. there is a lot that can and will be saved out of the budget. that is not his agenda. athe end of the day in the last election, he promised that he won't raise your taxes if you make less than $250,000 per year his promise, it is for one year only. he does have his tax increase for the rich people and he is still $7 trillion short. that is his goal. gerri: wow. i don't know where that comes from, but that's
is the new big task facing barack obama and the u.s. congress. gridlock over the so-called fiscal cliff. what's the fiscal or better put financial cliff? think of it as a high, steep rock. a ledge the u.s. is teetering on and will plunge over if no action is taken on certain financial matters. what are those? one, the bush era tax cuts. in 2001 and 2003, congress, under president george w. bush, lowered everyone's taxes. but it was only temporary, like 11 years temporary. less than two months from now midnight december 31, taxes go back up. the average household will pay more in taxes each year, $2000 to $3500 more. two, sequestration. what's that? new, big budget cuts. $110 billion in cuts in 2013 alone. they go into effect january 2, and will affect the defense budget and the domestic budget. the cbo, says unemployment could climb up over 9%, pushing the u.s. back into recession. why did this happen? an automatic sequestration or permanent set aside of $1.2 trillion was passed by congress, in order to force congress to compromise and figure out how to cut the budget itself. but, a congressi
envisioned. with the country set to hit the so-called fiscal cliff at year's end president obama and congress are seemingly committed to repeating their rhetoric and, perhaps, their mistakes as they ostensibly work toward avoiding the calamity of going over that fiscal clef. house speaker this morning made it clear. he thinks this is the president's moment, and he called upon the preside to lead, and he called on the president to find middle ground between a bitterly divided republican house and democratically controlled senate now, this is an opportunity for the president to lead. >> this is his moment to engage the congress and work toward a solution that can pass both chambers. and earlier this week the president and i had a short conversation. it was cordial. i think we both understand that trying to find a way to avert the fiscal cliff is important for our country. lou: the speaker also noted that when he came to agreements with the president in the past that he has had no problem, as he put it, tting legislation passed in the house. president obama, and his first public appearance since
electoral votes to president obama's 332. >>> if you have not heard the term fiscal cliff this week, you might be living under a rock. just ahead, americans are counting on compromise on capitol hill. what may be done to save you thousands of dollars >>> and recovery efforts continue in new york and new jersey. some lawmakers are speaking out against utility companies there many the stories and much more coming up when the news at 10:00 continues. inues.  hey! hey, baby. [ starts car ] were you eating smoked sausage in here? no! no. could have gotten me one. i did. try the unmistakable flavor of dunkin' donuts' smoked sausage breakfast sandwich. it's deliciously irresistible. hurry in today. the smoked sausage breakfast sandwich is only at dunkin' donuts for a limited time. grab one today. how do you always have my favorite coffee? well, inside the brewer, there's a giant staircase. and the room is filled with all these different kinds of coffee and even hot cocoa, and you'll always find your favorite. with so many choices, keurig has everyone's favorite. and i just press this bu
to fix the u.s. economy. with just 51 days until the so-called fiscal cliff, will president obama and congress be able to bridge the divide and find a solution? cnn's athena jones takes a closer look at what's at stake. >> it's time to get back to work. >> reporter: with the election in the rear view mirror, the focus in washington is back on efforts to avoid the economically devastating fis cat cliff. if we just go over the cliff and let those policies stake in effect, we're basically going to undo the recovery. neither party wants to be blame for that. the cliff amounts to $7 trillion in cuts and tax increases over the next decade. the threat of these painful cuts set to begin on january 1st is part of the deal the congress and the president made last year to force them to agree on a long-term deficit reduction plan. >> this is an unprecedented scenario that congress has basically put a gun to its oven head who's said if we don't act, we're going to shoot ourselves. >> so far that long-term plan hasn't materialized. the biggest chunk? the bush-era tax cuts. cuts for families mak
of america did not support him. if anything, it shows we are a divided country. but, at and president obama, understood the fiscal crisis we were facing when he took office in 2008. he promised to pay down the deficit in half in his first term. not only did he not pay it down, he double that. what people do not -- either they do not remember or understand, his first two years in office, and he had a democrat senate and house. he could have done anything he wanted. he did not focus on that. instead, they crammed obamacare down our throats. he was reelected but the polling showed, going into this election, people were concerned about jobs in the economy. exit polling shows there were concerned about jobs and the economy in the number was 52% of americans do not think the country is going in the right direction. that tells me people voted on likability and personality and policy. i think we need to do a better job educating people on how the economy works and what is going on here because this is not good for america. host: in the wall street journal, there is an interview and the headline is,
will a second term for president obama mean to the economy? will we see compromise or fall over the fiscal cliff? joining me are two former top presidential advisers. laura tyson, chair of the economic advisers then for president clinton and marty feldstein who held the same title under president reagan. laura, marty great to have you on the program. thank you for spending the time today. >> thank you. >> good to be with you. >> marty, both sides appear to be extending an olive branch when with it comes to the fiscal cliff. do you think we will reach a compromise? and if so how and when? >> i hope so. the consequence of not reaching the compromise for the american and world economy next year would be disastrous. we would be talking about a very deep recession if we went over the cliff and didn't quickly bounce back from it. >> laura, you think there is a two-part solution. what do you mean by that? >> we have the fiscal cliff and a need to get a long-run compromise plan on deficit reduction over the next decade. i think we have to be realistic, that the possible of getting the long-run plan over
valley. what does a second term for president obama mean to the economy? i will talk to two former top presidential advisers and sea if they think we can avoid the fiscal cliff. how to stay safe and find the right sectors in the mark and jamie dienl of jpmorgan chase. regulation, policy and totoo bi to fail. the "wall street joual report" begins right now. >> here's a a look at what is making news as we head to a new week on wall street. if if toward thought they would get a bounce after the election, they thought wrong. president obama's second term victory was greeted with stocks worst day of the year. the dow fell 300 points on wednesday and triple-digits on thursday and and the markets were mixed on friday. bond rating agency moody's reiterated the possibility of a downgrade if america goes over the fiscal cliff but sasaid it would wa wait after budget negotiations. a downgrade will make it more expensive for the united states to borrow money. >>> superstorm sandy would provide an economic boost to the auto industry. 250,000 new and used cars may haveve been n ruined by sandy. a lo
for the hearings into the libya attack. >>> back to the budget. the capital, politics, and the fiscal cliff. there's a decision taking place between the white house and congress. this week, president obama has actually invited congressional leaders to the white house to discuss a way to avoid the fiscal cliff. that's massive automatic tax increases and spending cuts that will kick in at year's end unless a deal is reached. let's find out if that's possible. john fund, national review magazine and coauthor of who's counting. >> thank you. >> start with asking about the president asking congressional leaders to come to the white house. a lot of people called for that. do you think we'll see bipartisanship? i better learn to say that because we hope it will be here. before the end of the year when we need it? >> well, there are two problems. one, there's not much time left and it's the holiday season. and the second problem is, this would be decided by an old congress which doesn't have the legitimacy of the new congress. i think we'll see a bridge over the fiscal cliff, temporary, where they kick do
. >> that's house speaker john boehner vowing to work with president obama on the challenges facing the nation the first the fiscal cliff, a toxic combination of tax increases and automatic spending cuts especially in defense that could take effect january 1st. so, we pointed out in the last segment, republicans held the house with minimal losses despite a big democratic year. can boehner think, look, i've got as much mandate as the president? >> i think he should absolutely think that, paul. the president made clear, didn't really run on the second term agenda and didn't talk about it much. i'll tell you what the mandate is right now, the mandate is that fiscal cliff, the bipartisan mandate. >> paul: to go off it is the mandate or not to go off. >> i think the stock market went off in the last week, people are saying pretty clearly you've got to do something about this now. i think they have a lot of leverage here, because if something isn't done, the economy is going to decline, maybe go into recession and i think employment can get as high as 10%. >> paul: if we had another reces
to new ideas. >>> president obama says he is willing to negotiate when it comes to the so-called fiscal cliff, and this week he will get his chance as he sits down with congressional leaders once again in a bid to cut the national deficit. the meeting could have implications for talks going forward. athena jones has more now from washington. >> it's time to get back to work. >> reporter: with the election in the rearview mirror, the focus in washington is back on efforts to avoid the economically devastating fiscal cliff. >> if we just go over the cliff and let those policies stay in effect, we're basically going to undo the recovery. metro party really wants to be blamed for that. >> reporter: the cliff amounts to $7 trillion in spending cuts and tax increases over the next decade. the threat of these painful cuts set to begin on january 1st is part of a deal congress and the president made last year to force them to agree on a long-term deficit reduction plan. >> this is a scenario that congress has said if we don't act, we're going to shoot ours. >> reporter: so far that long-term pl
. doubling down on hope and barack obama. what does the winner hope will give him and more important us a second term upgrade? will the hard right in the house give thumbs down for the re-elected president, will they risk the fiscal abyss to keep their ties to the tea party? and finally, this is my country. even mitt romney was echoing that cry from the anti-obama crowd, pledging to take our country back. but that is deep in the past. no matter how hard they want it, america's fewer you to -- future just won't look like the early 1950's. hi, i'm chris matthews. welcome to the show. with us today, the washington post bob woodward. "the washington post" kathleen parker, "the new york times" d helen cooper. first up. barack obama's place in american presidential history was upgrated tuesday with his convincing sweeping re-election by an entirely new american elect rat. -- electorate. >> we are greater than the sum of our individual ambitions and we remain more than a collection of red states and blue states. we are and forever will be the united states of america. and together, with your h
is getting close to falling off that so-called fiscal cliff. president obama and house speaker boehner they have promised to compromise but what does it mean and can they get it done? >> gregg: approved by voters in two states but federal government says wait just a minute. don't pop out the pot quite yet. it is still against the law. which side is going to win this fight? i have a cold... i took dayquil, but i still have a runny nose. [ male announcer ] dayquil doesn't treat that. huh? [ male announcer ] alka-seltzer plus rushes relief to all your worst cold symptoms, plus it relieves your runny nose. [ sighs ] thank you! [ male announcer ] you're welcome. that's the cold truth! ♪ ♪ morning because my back hurt so bad. the sleep number bed conforms to you. i wake up in the morning with no back pain. i can adjust it if i need to...if my back's a little more sore. and by the time i get up in the morning, i feel great! if you have back pain, toss and turn at night or wake up tired with no energy, the sleep number bed could be your solution. the sleep number bed's secret is it's air c
. and the shocking resignation of petreaus. and the woman, and what obama had to say and the steep drop of the physical che fiscal-clef. what e country is facing the physical cliff fiscal cle iff sleep train has your ticket to tempur-pedic. experience the pressure-relieving comfort of tempur-pedic, and sleep risk-free with sleep train's 100-day money back guarantee. get 36 months interest-free financing: no down, and no interest for 3 years. plus, get free same-day delivery. sleep train's 100-day money back guarantee, interest-free financing, and free delivery? that's the ticket! sleep train's ticket to tempur-pedic is on now. ♪ sleep train ♪ your ticket to a better night's sleep ♪ >> and thousands of east coast residents have been without power for almost two weeks. and they're counting on promises made by officials for full restoration by the end of the weekend. christina mutchler. has more. >> what we want! >> power! when tawana? >> now! after toughing it out after super storm sandy and last week's nor'easter, some long island residents were " in the dark " about when their pow
carolina del norte, los otros los ganÓ el presidente obama. afortunadamente el resultado electoral no dependÍa del que sucediera en la florida. el presidente obama reiterÓ que no aceptarÁ un plan para evitar el llamado abismo fiscal, si no se exige a ricos pagar mÁs impuestos, en su discurso del sÁbado, dijo que esta preparado para asumir su compromiso con los republicanos, por su parte el republicano john boehner presidente de la cÁmara de representantes, dijo que estÁ confiado que ambas partes llegarÁn a un acuerdo. >>> pasamos a puerto rico, por primera vez en su historia, los votantes decidieron si la isla debÍa ser el estado nÚmero 51 de la uniÓn americana, y desato reacciones jorge nos presenta alguna de ellas. >>> quiere convertirse en el estado 51 de estados unidos, votaron mÁs del 60% de electores de puerto rico, en un referÉndum complicado que contaba con dos pret guntas. >>> la primera pregunta logra la mayorÍa el no. >>> que significa un cambio del estatus actuale. >>> y la segunda si el puertorriqueÑo quiere la independencia la estaridad o una formula in
's good at doing this. she gets votes. >> president obama. okay, he has no brain in time. he has to go into the fiscal cliff. don't you love that name? where did that come in? >> i think that's from the public press. i think they have to find someway to hang onto their audience since there is no longer an election. we can't talk about romney, can't talk about obama, can't talk about any of the things that went on in the campaign, so you've got to capture it right away and they got it right away. >> there's actually one network that is a fiscal cliff cox -- fiscal cliff clock. the wonderful part of american politics is this election is just over and probably the new one has begun. people are already laying tracks for the next round, correct? >> listen, mr. obama was giving a great speech. people were discussing, i wonder what hillary is doing? will she be there? how are they going to work out that relationship? and that's only the first two. >> marco rubio had a very carefully crafted speech congratulating everyone am looking forward to new solutions and new ideas. >> of course, the big
, jobs and fiscal responsibility. what we need to do, as i said, is that president obama needs to take a page out of president clinton's book. he needs to use the bully pulpit. we need a meaningful citizen education engagement campaign. we need to demonstrate to the far right -- >> do you think that's part of the issue, though? >> i think he wants a deal. i think he needs a deal. >> do you think president obama would have a deal you would be satisfied with, stephen? >> i think if president barack obama moved a little to the right because he governor earns from the left -- americans are first and foremost. we want to get this problem solved. >> let's say barack obama moves to the so-called middle, wherever that is, but still says the top 2% has higher income taxes. >> the republicans will not go along with higher tax rates. he can say we'll close the loopholes, we can do everything, but i think the republicans honestly believe, and i agree with them on this, that raising those tax rates will hurt the economy more than it will bring down the deficit. you're the one who has always said jo
obama is to meet with republican and democratic leaders of congress. they want to avert the year-end fiscal cliff that we've heard so much about. after they returned a gridlock congress to capitol hill and mr. obama to the white house, both the president and house speaker john boehner vowed to find some common ground. >> well, clearly the deficit is a drag in our economy and we can't continue to spend money that we don't have. i don't want p to box myself in. i don't want to box anybody else in. i think it's important for us to come to an agreement with the president but this is his opportunity to lead. >> i want to be clear, i'm not we hadd wedded to every detail of my plan. i'm open to compromise. i'm open to new ideas. i'm committed to solving our fiscal challenges. but i refuse to accept any approach that isn't balanced. >> joining us now is a man who knows all about bipartisanship and compromise. former senator george mitchell is joining us. you were majority leader from 1989 to '95 during a time when senators and house members were actually friends. and i mean those on oppo
stakes should washington fail to avert fiscal disaster by the end of the year. plus, what is the future of the gop after a stinging defeat for romney and the republicans? and how will president obama govern in a second term? we'll talk to a newly elected document congressman, joaquin castro. plus republican strategist steve schmidt, presidential historian doris kearns goodwin, nbc's political director and chief white house correspondent chuck todd, and the "washington post's" bob woodward. >> announcer: from nbc news in washington, the world's longest-running television program, this is "meet the press." with david gregory. >> and good sunday morning. the newly re-elected president's message on friday, get back to work. but the focus of that work and on that work is now overshadowed by friday afternoon's resignation of cia director david petraeus, which sent as you know shock waves through washington. new details emerging now this weekend about the fbi investigation that led to the discovery of what officials believe was an extramarital affair between petraeus and his biographer, paula
podesta, and david gergen. john podesta, what does president obama do to ensure the united states does not fall off the fiscal cliff? you have already seen there's much debate about this and many people on the left, paul krugman in "the new york times" is saying do not make a deal just for the sake of making a deal, hold out and call the republicans' bluff. >> i think it was set up, one that was based on the president's argument. taxes needed to go up, particularly for the wealthiest americans. i think he has to stick with that. one thing he was clear about, he wasn't going to sign a bill with high end tax rates from the bush era. he's going have to negotiate with the republicans. if they have an ideal how to raise taxes from that group, i'm sure he's willing to listen to them. but i think rye now he's got to be successful in creating this fiscal framework that gives him the revenue that he needs to make the investment that he wants for the things like infrastructure, science and tack that he's talked about to the american people. he's going to be tough but befair to compromise. >> dav
and the fiscal cliff clock is ticking. failure to act by the end of december could trigger deep spending cuts including $2.6 billion from nih. president obama's re-election means the affordable care act will go effect but implementation especially pressure to cut the deficit will be challenging. president obama had this to say about the hurdles and priorities in his
. "washington journal" live at 7:00 eastern on c-span. on friday, president obama talked about tax increases and budget cuts known as the fiscal cliff. he spoke to reporters in the white house room for about 10 minutes. >> ladies and gentlemen, the president and the vice president of the united states. [cheers and applause] >> thank you. thank you. thank you, everybody. thank you. thank you very much. thank you. thank you very much. everybody, please have a seat. thank you. good afternoon, everybody. now that those of us on the campaign trail have had a chance to get a little sleep, it is time to get back to work, and there's plenty of work to do. as i said on tuesday night, the american people voted for action, not politics as usual. you elected us to focus on your jobs, not ours. in that spirit, i have invited leaders of both parties to the white house next week so we can start to build consensus around the challenges that we can only solve together. i also intend to bring in business and labor and civic leaders from all across the country to get their ideas as well. in a time when our eco
. >>> lots more roundtable coming up. more on the fiscal cliff. who has the upper hand there? deal or deadlocked? plus president obama sweeps the battleground. did mitt romney throw away a winning hand. >> were you surprised by the results? >> a little. republicans, what happened? 8% for this $5. i even gave you a one-debate head start. i mean, on top of that, i'm black. but you still couldn't take me out. [ male announcer ] introducing the new dell xps 12. part of a whole new line of tablets from dell. it's changing the conversation. ♪ [ male announcer ] navigating your future can be daunting without a financial plan. your plan should be built to your specific needs so that it lasts through every stage of your life. ♪ at pacific life, we can give you the tools to help you achieve financial independence. ♪ tools that help you protect your family, supplement your retirement, build your business, and plan your legacy. ♪ for more than 140 years, pacific life has assisted families and businesses in meeting their goals, even in uncertain economic times. ♪ let us help protect t
as part of a comprehensive plan. >> failure is not an option for the country when it comes to fiscal cliff. >> jeff: house speaker john boehner held a conference call with his members telling them compromise was needed. obama senior advisor david axelrod called boehner's congress to members encouraging. >> i think there are a lot of ways to skin this cat so long as everybody comes with a positive, constructive attitude toward the task. >> jeff: if the automatic spending cuts happen, exactly 50% of the board without fall on the pentagon. national security correspondent david martin lays out what that would mean. >> reporter: the dreaded sequestration would double the $500 billion in cuts the pentagon is already planning to make over the next decade. defense secretary panetta has not minced words about what that would mean. >> if a sequestration is allowed to go into effect it will be a disaster for national defense. >> reporter: according to panetta the new american strategy of pivoting away from the wars in iraq and afghanistan toward the pas civic and an emerging chinese superpower would
president obama do to ensure that the united states does not fall off the fiscal cliff? you've already seen, there is much debate about this, and many people on the left, paul krugman in the "new york times" is saying do not make a deal just for the sake of making a deal, hold out and call the republicans' bluff. >> well, i think that this election set this up as one in which the president won on the basic argument that taxes needed to go up, particularly for the wealthiest americans, they need to pay a little bit more to try to solve the deficit problem. and i think he's got to stick with that. the one thing he was clear about was that he wasn't going to sign a bill that extended high-end tax rates from the bush era. now, he's going to have to negotiate with the republicans. if they have ideas on how to raise taxes from that group, i'm sure he's willing to listen to them. but i think right now he can't -- he's got to be successful in creating this fiscal framework that gives him the revenue that he needs, to make the investment that he wants for the things like education, infrastructure, s
. the final electoral vote tally? 332 for president obama, 206 for romney. >>> well, now that the election is over, both the president and the republicans addressed the issue of the so-called fiscal cliff. spending cuts and tax increases that will be triggered if it's not resolved by the end of the year. >> we can't just cut our way to prosperity. if we're serious about reducing the deficit, we have to combine spending cuts with revenue. and that means asking the wealthiest americans to pay a little more in taxes. that's how we did it when bill clinton was president and that's only way we can afford to invest in education and job training and manufacturing all the ingredients of a strong middle class and strong economy. >> instead of raising tax rates on the american people and accepting the damage it will do to the economy let's start to actually solve the problem. the tax reform. lowers tax rates. instead of accepting arbitrary cuts, that will endanger our national defense, let's get serious about shoring up the entitlement programs that are the primary drivers of our country's massive g
" "examines the election. what president obama did right and what the republicans need to do and what both have to do to avoid falling off the so-called fiscal cliff. that's coming up at 8:00 right here on abc7. >>> we are learning more this morning about the scandal involving david petraeus. his sudden resignation as head of the cia is still sending shockwaves through washington. petreas said he accepts all the blame for his own downfall >>> after nearly four decades in international affairs, it was an extramarital affairs that brought david petraeus' distinguished career to a jolting end. in a statement to cia employees he acknowledged the liaison, expressing his extremely poor judgment. it's unacceptable, he said, both as a husband and as a leader of an organization such as hours. >> if they found out about an extramarital affair they could use it as blackmail against you. >> he has been married to his wife holly for 38 years. they have two children. they met when he was a west point cadet and she stood by him as he raced on the fast track up the ranks to four-star general. last year he
, that fiscal cliff. those tax hikes and spending cuts scheduled take place at the end of the year unless congress acts. president obama and house speaker john boehner picked up where they left off in dualing public appearances where both sounded consillatory, but didn't seem to budge much. must add to the president's to do list one more thing. he needs a cia director after general david petraeus resigned admitting to an extramarital affair. joining me now is robert menendez, later chairman of the house homeland security committee. good morning, senator. it's good to see you. let me start out with the petraeus matter. do you believe that this is -- leaves a big hole in military or intelligence operations or can they carry on smoothly? >> well, mike morrell, the second in charge, i think, is an excellent individual, has the president's confidence and can carry on in the interim. i don't feel general petraeus was a tremendous asset at the cia. it's unfortunate. i respect his decision under the circumstances. in the interim i believe the agency continued to function under mr. morrell. >> wha
to be one of them. this week, i offered congratulations to president obama -- along with an alternative to sending our economy over any part of the fiscal cliff. instead of raising tax rates on the american people and accepting the damage it will do to our economy, let's start to actually solve the problem. let's focus on tax reform that closes special interest loopholes and lowers tax rates. instead of accepting arbitrary cuts that will endanger our national defense, let's get serious about shoring up the entitlement programs that are the primary drivers of our country's massive, growing debt. 2013 should be the year to begin to solve our debt through tax reform and entitlement reform. together, we should avert the fiscal cliff in a manner that ensures that 2013 finally is that year. shoring up entitlements and reforming the tax code -- closing special interest loopholes and deductions, and moving to a fairer, cleaner, and simpler system -- will bring jobs home and result in a stronger, healthier economy. a stronger economy means more revenue -- which is exactly what the president is s
Search Results 0 to 49 of about 73 (some duplicates have been removed)